Published On:February 8 2019
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Superstructure completion for Dubai's $20m Samana Greens

The superstructure of Samana Greens, a G+4 apartment complex, has been completed by Dubai-based Samana Developers, which is targeting a February 2020 handover for its maiden project.

Ground was broken on the $20.4m (AED75m) Samana Greens in February 2018, and construction has since been “fast-tracked” by Samana Developers.

Compliant with green building regulations, the property will use recycled grey water for irrigation, while solar panels will be installed to reduce electricity bills. Other “green appliances” will be used to ensure the building meets Dubai’s vision of becoming a sustainable city.

The self-financed freehold project has 131 residential units ranging from studios to two-bedroom apartments. Located near Miracle Gardens in Arjan, the property sits on a total built-up area of 13,000m². Samana Greens has space for several retail units, as well as a sauna, a gym, a children’s play area, shaded parking, and landscaped areas.

A 9.25% return on investment is being promised for Samana Green investors who buy units with the intention to lease. While 60% of the property has been sold to date, Samana Developers said it is determined to complete Samana Greens as scheduled so that potential buyers can see the units before making an investment.

“As Dubai’s real estate market matures further, with tighter regulations and transparency, property buyers are looking [for] quality finishing, as well as the timely delivery of the project,” said Imran Farooq, group chief executive officer of Samana Developers.

“We felt [it was] our obligation to construct the project before we ask buyers to put their money into the property.”

www.arabianindustry.com





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